HB4076 - Sales tax and income tax; revise certain sales tax provisions, phase out individual income tax.

1 Co-Sponsor

An Act To Authorize The Governing Authorities Of Any Municipality To Impose A Sales Tax On The Gross Proceeds Of All Sales Or The Gross Income Of Businesses In The Municipality Derived From Activities Taxed At The Rate Of Seven Percent Under The Mississippi Sales Tax Law; To Limit The Rate Of The Tax That May Be Imposed By A Municipality; To Amend Section 27-65-17, Mississippi Code Of 1972, To Reduce The Sales Tax Rate On Retail Sales Of Food For Human Consumption Not Purchased With Food Stamps But Which Would Be Exempt From Sales Tax If Purchased With Food Stamps; To Amend Section 27-65-19, Mississippi Code Of 1972, To Levy A Tax On The Gross Income From Retail Sales Of Certain Motor Fuels; To Amend Section 27-65-75, Mississippi Code Of 1972, To Revise The Amount Of State Sales Tax Revenue That Is Distributed To Municipalities; To Revise The Distribution Of State Sales Tax Revenue Collected From Retail Sales Of Food For Human Consumption Not Purchased With Food Stamps But Which Would Be Exempt From Sales Tax If Purchased With Food Stamps; To Provide That Sales Tax Revenue Derived From Retail Sales Of Certain Motor Fuels, Shall Be Deposited Into The 2022 Maintenance Project Fund And The 2022 Capacity Project Fund; To Amend Section 27-65-111, Mississippi Code Of 1972, To Revise The Sales Tax Exemption On Sales Of Certain Motor Fuel; To Amend Section 27-7-5, Mississippi Code Of 1972, To Phase Out The State Income Tax On The Taxable Income Of Individuals; And For Related Purposes.